Berger Paints reports N3.1bn in Q2 sales as profit jumps on lower costs 

…Records 635% surge in half-year earnings

Berger Paints has posted a pre-tax profit of N464 million for the second quarter ended June 2025, marking a decisive turnaround from the N77 million loss recorded in the same period last year.

This performance lifted the company’s half-year profit to N945.8 million, representing a 635 per cent increase year-on-year, according to its latest financial statement filed with the Nigerian Exchange (NGX).

Revenue growth was the main driver of the rebound, with Q2 turnover rising to N3.1 billion, up 22.06 per cent from N2.6 billion posted in the corresponding quarter of 2024. Consequently, half-year revenue climbed to N6.1 billion, compared with N5.01 billion in H1 2024.

Sales of paints and related products accounted for N6.03 billion of the total, while contract services contributed N123.1 million.

Cost-efficiency gains also played a role, with the cost of sales falling to N1.7 billion in Q2, down 6.26 per cent from N1.9 billion a year earlier. This improvement propelled gross profit for the quarter to N1.4 billion, reflecting a 98.21 per cent increase.

Operating expenses grew during the period, with selling and distribution costs rising 14.27 per cent to N214 million and administrative expenses increasing by 22.5 per cent to N741.6 million. Even so, operating profit reached N453.2 million, a sharp contrast to the N68.5 million loss reported in Q2 2024.

With finance costs down 24 per cent and finance income at N20.6 million, Berger Paints swung back to a pre-tax profit of N464 million for the quarter.

On the balance sheet, total assets edged up 0.81 per cent to N7.58 billion, while retained earnings grew to N3.3 billion from N3.04 billion as of December 2024.

By the close of trading on 28 July 2025, the company’s shares were priced at N31, reflecting a 55 per cent year-to-date gain.